National Team for Combating Illicit Trade Reviews Outcomes of Commercial Records Audit
Muscat, 22 May (ONA) — The second meeting of the National Team for Combating Illicit Trade reviewed the outcomes of the first phase of the commercial records audit and laid the groundwork for launching the second phase, in line with the implementation of Ministerial Decision No. 412/2023.
Held at the Ministry of Commerce, Industry, and Investment Promotion in Muscat, the meeting included a comprehensive review of the desk audit results from the first phase, which showed significant progress in detecting and identifying illicit commercial activities by certain businesses engaged in illicit trade—particularly those previously restricted to foreign investors. The team emphasized that these findings reflect a clear commitment to addressing these illegal practices, which negatively impact Oman’s business environment.
The meeting also discussed ways to enhance inspection procedures and ensure commercial records comply with applicable laws and regulations, preventing them from engaging in unlawful activities classified as illicit trade.
The national team reaffirmed its ongoing collaboration with relevant authorities to implement a comprehensive plan to combat illicit trade, ensuring a fair and investment-friendly business environment that promotes sustainable growth, safeguards consumer rights, and curbs unfair competition in the Omani market.
Nasra Sultan Al Habsi, Director General of Commerce and Chairperson of the National Team for Combating Illicit Trade at the Ministry of Commerce, Industry, and Investment Promotion, stated that the first-phase results highlight the importance of effective coordination between government and private entities in uncovering commercial violations. She noted that the team will enhance this cooperation in the next phase by developing monitoring tools and launching joint awareness campaigns on the risks of illicit trade and its impact on competitiveness and investment.
On his turn, Mohammed Salim Al Hashmi, Director of the Commercial Establishments Monitoring Department and Head of the Technical Team at the Ministry of Commerce, Industry, and Investment Promotion, affirmed that the second phase will focus on refining monitoring methodologies and expanding the audit scope to cover more governorates, with the involvement of all relevant sectors in these national efforts.
The decision to combat illicit trade aims to foster an attractive business environment in Oman by detailing procedures for registering foreign firms and companies, specifying requirements, controls, and timelines for issuing approvals, permits, or licenses related to investment projects, in accordance with the Foreign Capital Investment Law.
The team includes officials from the Ministry of Commerce, Industry and Investment Promotion; the Ministry of Labour; the Ministry of Information represented by the Government Communication Centre; the Tax Authority; the Central Bank of Oman; the Royal Oman Police; the Consumer Protection Authority; and the Authority for Small and Medium Enterprises Development.
It is worth noting that the Ministry of Commerce, Industry and Investment Promotion issued Ministerial Decision No. 412/2023 to combat illicit trade in collaboration with several government entities, addressing its economic and social repercussions on businesses and society, and responding to persistent public appeals over the years to curb this practice.
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